Luminar, Britain's biggest nightclub group, has attracted the interest of at least two private equity groups according to reports. The troubled group, which operates about 80 large-scale venues, is set to be put in play next month when it is expected to breach its banking covenants. It has been hit be a savage deterioration in trade, which culminated in like-for-like sales declines of -25% during the football World Cup. The Times newspaper suggests that the group, led by Simon Douglas, has received a number of speculative approaches. As well as a number of groups described as "bottom feeders" - eager to pick up distressed businesses "on the cheap" - Luminar is also thought to have been approached by two private equity groups, although one is only interested in buying the debt, which currently stands at about £90m. Most analysts expect its banks to provide further breathing space should it breach covenants, in exchange for a higher rate of interest. The Times said that those close to the group have played down the prospect of a buyout, and said that the new management team was fully focused on turning the business around. Potential buyers could include Sun Capital, the US buyout firm that recently acquired the lion's share of 3D Entertainment, and R Capital, the owner of Little Chef plus a number of nightclub assets.